Europe's political structure is also suspended between two stable formations: the federated nation state and the international alliance. This in-between structure is called a confederacy, and it is something that was tried and which failed in North America.
Economists' most glaring error is not understanding or appreciating the difference between money and credit. Most can't conceive of practical ways we can use real government-issued money instead of private debt.
With rare exceptions, those in control of the world's monetary/economic agenda and the theories supporting it have helped bring the world to its knees. Shouldn't they and their theories be held accountable?
As the House Republicans forge their own course, demanding radical spending cuts right now, the tired and shabby arguments of the old deficit-worriers hardly seem connected, any more, to the battles at hand.